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Generally, if you withdraw funds from a tax-deferred retirement account and have
not reached age 59 1/2, your withdrawal will be subject to a 10% penalty on the
amount withdrawn. In addition to paying income taxes at the federal level, you
may have to pay state taxes. There may also be a state penalty on
an early withdrawal. State taxes are not considered in this example.

Your federal income tax rate after making the withdrawal:

0%

The amount you plan to withdraw from your tax-deferred account:

$0

The estimated taxes due on the amount withdrawn:

$0

The 10% penalty on the amount withdrawn:

$0

The estimated total taxes and penalties:

$0

The amount remaining after taxes and penalties:

$0

Whenever possible, it's generally best to avoid paying early withdrawal penalties on retirement assets. How much of your retirement nest egg would be lost to taxes and penalties if you took an early withdrawal? Note that this example assumes that the account is funded with pre-tax or tax-deductible contributions, and that withdrawn amounts are taxable.

Total taxes and penalties are estimated to be $0.00. After taxes
and penalties, the amount remaining will be $0.00.

There are certain exceptions to the penalty imposed on an early withdrawal. However,
income taxes must still be paid. Consult your tax advisor before taking any action.

Distribution Potentially Lost to Penalties and Taxes

This hypothetical example is used for illustrative purposes only. Actual results will vary.

This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

Registered Representative of and securities offered through Berthel Fisher & Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. Axiom Wealth Advisors, BFCFS, and BFC Planning, Inc. are independent entities. Due to various state regulations and registration requirements concerning the dissemination of information regarding investment and insurance products and services, we are currently required to limit access of the following pages to individuals residing in states where we are currently registered. We are registered to sell securities in the following states: IL, WI.